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home / news releases / MDP - Gray Television to divest WJRT-TV to Allen Media for $70 million in cash

MDP - Gray Television to divest WJRT-TV to Allen Media for $70 million in cash

Meredith Corporation
Gray Television (GTN) agrees to divest WJRT-TV, its ABC affiliate for the Flint-Saginaw, Michigan television market, to Byron Allen's Allen Media Broadcasting for $70 million in cash.Gray's sale of WJRT-TV aids regulatory consents for its pending acquisition of Meredith's (MDP) Local Media Group division by removing the only market overlap between Gray and Meredith's respective television station portfolios.The closing for the sale of WJRT-TV is supposed to occur in Q3 or Q4'21, before closing the Gray/Meredith transaction.

For further details see:

Gray Television to divest WJRT-TV to Allen Media for $70 million in cash
Stock Information
Company Name: Meredith Corporation
Stock Symbol: MDP
Market: NYSE
Website: meredith.com
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